What is the purpose of government regulation of the economy?

Question

Quizplus · Accepted Answer

The purpose of government regulation of the economy is to minimize abuses and promote competition. This means that the government has a responsibility to protect consumers from harmful business practices, prevent monopolies from forming, and ensure that businesses are operating fairly within the market. By doing so, the government can help to create a level playing field for all businesses and promote a healthy economy for everyone. Government regulation does not prioritize increasing revenue for the federal government, increasing profits for multinational corporations, or minimizing business costs.

What Is the Purpose of Government Regulation of the Economy